Beruflich Dokumente
Kultur Dokumente
Definition of Economics:
Explores the behaviour of Financial markets including interest rates & stock prices. Examines why some people & countries have high incomes while others are poor and suggests ways how the incomes of poor can be raised without harming the economy. Studies business cycles the ups and downs of unemployment & inflation along with policies
Introduction to Economics
Definition of Economics: Studies international trade and finances & the impacts of globalization. Looks at the growth of developing countries & proposes ways to encourage the efficient use of resources. Government policies maybe used for rapid economic growth, efficient use of resources, full employment, price stability, & fair distribution of income.
Definition of Economics
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. Economics is concerned with the production, consumption, distribution and investment of goods and services.
Welfare in itself has a wide meaning which is not made clear in definition.
Approaches in Economics
Scientific Approach Theoretical Approach Econometrics